Stafford loan interest rates can be a mystery. Congress periodically adjusts how interest is charged (fixed or variable), and the maximum interest rates. Make sure that you're looking at the most up-to-date information as you research your loan. However, you should double-check the up-to-date information with your lender — it may only apply to loans issued after yours. Good thing you have a college degree to figure this one out!

Stafford loans obtained through lenders associated with Sallie Mae, the largest education finance company in the United States, may be eligible for decreased interest rates if the first forty-eight payments are made on time. Consider having payments automatically deducted from your checking account each month to ensure you're not late with a payment.

If you don't have a Sallie Mae loan, consider transferring your loan or refinancing it with a Sallie Mae lender to take advantage of Sallie Mae's incentives, such as the interest reduction. Other lenders may offer similar rewards if you set up automatic monthly payments and pay on time for several years. When rates are low, you can take advantage of the opportunity to pay off your loans more quickly by continuing to make the higher payments even though your required payment is lower.

The sooner you start paying off your loans and the larger your monthly payment, the less your loans will cost you in the long run. It may be difficult for the first few years to pay more than the minimum, especially if your loans are very large or your income is very low. If you find yourself having difficulty making your loan payments, it's better to be proactive than to make late payments or default on your loans. Call your lender at the first indication that you may have trouble making payments.